Replies to post #174 on PSM Holdings, Inc. (fka PSMH)

[Royal]

PSMH The agreement with NWBO, originally signed on April 14, 2006 , and recently renewed for an additional five years on April 14, 2011 , is automatically renewable for two successive three-year periods and thereafter for successive one-year terms, unless either party notifies the other of its intent not to renew the agreement prior to the third automatic renewal term. The agreement is also terminable by either party for breach by the other party or change of control of the other party. PSMH paid cash of $150,000 and issued 150,000 shares of common stock valued at $675,000 to NWBO and its owners for this license, which is being amortized over 14 years.